Franklin Electric Co., Inc. Revises Earnings Guidance for the Full Year 2021
April 27, 2021 at 05:30 pm IST
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Franklin Electric Co., Inc. revised earnings guidance for the full year 2021. Due to better than expected first quarter earnings and the recently completed Water Treatment acquisitions, the Company is revising its full year 2021 revenue estimates to be in the range of $1.45 billion to $1.48 billion and full year 2021 earnings per share before restructuring expenses to be in the range from $2.80 to $3.00. The Company’s revised 2021 guidance assumes there will not be any worsening impacts from the global pandemic.
Franklin Electric Co., Inc. designs, manufactures and distributes water and fuel pumping systems, composed primarily of submersible motors, pumps, electronic controls, water treatment systems, and related parts and equipment. The Companyâs water pumping systems move fresh and wastewater to the residential, agricultural and other industrial end markets. The Company's segments include Water Systems, Fueling Systems, and Distribution. Water Systems produces and markets water pumping systems and is a technical service for submersible motors, pumps, drives, electronic controls, water treatment systems, and monitoring devices. The Fueling Systems segment designs, manufactures and sells pumps, motors, pipe, sumps, fittings, vapor recovery components, electronic controls, monitoring devices and related parts and equipment primarily for use in fueling system applications. The Distribution segment operates as a collection of wholly owned groundwater distributors known as the Headwater Companies.